Paddle8 Lands $6 Million in Fresh Funding

Paddle8 is $6 million richer. The online auction house has completed a second funding round backed by investors including artist Damien Hirst, Alexander von Furstenberg, the Mellon family, and White Cube gallerist Jay Jopling. The new backers join Mousse Partners and Founder Collective, which led Paddle8’s $4 million Series A in February of last year. The company, founded in 2011 by Alexander Gilkes and Aditya Julka, will use the capital infusion to invest in new technology and expand beyond contemporary art into the realm of collectibles, “from eclectic design to fine jewelry,” according to a statement issued today. A London office will open this fall, joining Paddle8’s New York HQ and recently opened Los Angeles outpost.

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